There are fears for up to 60 jobs at the Cameron plant in Longford Town.
All 270 staff at the company were called into a meeting this afternoon, and were told the company is seeking up to 60 redundancies and also a possible reduction in working hours.
Cameron designs and manufactures solutions for the global oil and gas industry; its Longford plant is among 250 worldwide.
It is believed some jobs losses had been expected due to the downturn in the oil industry.